Motion to Dismiss Granted in $7.5 Million Case

April 2, 2012

Greg Schultz and Deborah Livesay recently succeeded in obtaining the dismissal of two foreign limited liability companies organized and located in the country of Belize from a lawsuit filed in the Superior Court of Cobb County, Georgia, wherein the plaintiff alleged that these companies, her former investment advisor, and a host of shell corporations had committed fraud and violated RICO and the Georgia Securities Act. The plaintiff sought to recover $7.5 million on the theory that that her former investment advisor, who had been convicted on criminal charges of racketeering and securities violations, had conspired with these companies to defraud her out of approximately $2.5 million through fraudulent investment schemes associated with certain properties located in Belize. The court rejected plaintiff's claims as they related to the Belize companies and dismissed them pursuant to O.C.G.A. § 9-11-5(b). The plaintiff has appealed the ruling.